What if you were able to cut vendor negotiation time by 80%?
ContractAI is an AI powered SaaS-based solution that automates the creation and negotiation of contracts. ContractAI utilizes AI to automatically analyze historical contracts to author templates and identify clause options that are win-win, contentious, or high risk. This allows all parties to better understand negotiation boundaries, legal and compliance implications, obligation intents and permissible thresholds to make better contracting decisions.
ContractAI utilizes AI generated templates to eliminate the painful redlining process. Enterprises can streamline the terms of negotiation based on past learnings, thereby reducing exposure to high-risk terms and conditions. Vendors can easily choose alternative acceptable terms and significantly reduce the business, legal and procedural costs utilizing an AI-based scoring system.
ContractAI uses advanced language models and a knowledge graph-based algorithm to parse historical contracts automatically, to identify acceptable and contentious clauses and to create a new template. ContractAI also uses Machine Learning to provide insights into evolving behavior patterns that are then used to improve the contract template, structure, language and clause options.
Drastic Reduction in Contracting Time
Proven ability to reduce contracting time by up to 80% by leveraging AI to automatically generate win-win templates and clause options
AI-Powered Contracting Insights
Understand negotiation boundaries, legal and compliance implications, obligation intents, permissible limits and thresholds
Streamlines Negotiation Process
Eliminates the painful process and the associated risks of passing versions between procurement, vendor and legal
Mitigates Contract Risk
Impact Analysis and scoring of clause options that have been vetted by legal gives procurement and vendors the information needed to mitigate contract risk
ContractAI Key Features
Automatic Clause and Template Authoring
Historical contracts and templates are AUTOMATICALLY analyzed and a bespoke template including clause options is created based on terms that have proven to be historically win-win
Contract Templates that Evolve Over Time
Machine Learning is leveraged to provide insights into evolving behavior patterns that are then used to improve the contract template, terms, structure, language and clause options
Procurement Dashboard that makes Managing the Contracting Process Easy
Track and monitor issues, time left to close, number of vendors and status of progress for each vendor in real time; capability to update project details, timelines and add/remove vendors from the process
Control Negotiation through Value-based Scoring
Assigns a fixed monetary or points value to each vendor to spend on choices based on the expected value/risk to buyer
Requires no training for procurement or vendors
Configurable Policy Integration
Enables procurement to add policies such as digital security and compliance requirements, just by toggling on/off button